Exhibit 99.1
4650 SW Macadam Avenue, Suite 400 • Portland, OR 97239 • Telephone (503) 946-4800
CONTACT: Jay Khetani, Vice President of Investor Relations (503) 946-4700
Website: http://www.precast.com

PRECISION CASTPARTS FOURTH QUARTER FISCAL 2015 EARNINGS

SALES OF $2.5 BILLION
ADJUSTED EPS OF $2.94 FROM CONTINUING OPERATIONS (DILUTED)1,2 
REPORTED EPS OF $1.06 FROM CONTINUING OPERATIONS (DILUTED)1 

Reported EPS includes $1.88 in after-tax charges related to asset and inventory valuation adjustments and restructuring activities
Organic sales flat on a constant currency basis year-over-year, including the continuing impact of headwinds from an aerospace customer's inventory actions and oil & gas and pipe markets
Returned $729 million to shareholders in form of share repurchases; $1.6 billion returned during FY15
FY16 guidance of EPS from continuing operations (diluted) of $12.50 - 13.40, with sales of $10.0 - 10.4 billion

PORTLAND, Oregon - May 13, 2015 - Precision Castparts Corp. (NYSE:PCP) reported its results for the fourth quarter of fiscal 2015:

Consolidated PCC
 
 
 
 
 
 
(Unaudited; in millions, except per share data)
Q4 FY15
 
Q4 FY14
 
Change
 
Sales
$
2,504

 
$
2,519

 
(1
)%
 
Consolidated Operating Income
$
490

 
$
718

 
(32
)%
 
Operating Income Margin
19.6
%
 
28.5
%
 
(890
)
bp
Net Income from Continuing Operations1
$
149

 
$
478

 
(69
)%
 
Earnings per Share - Continuing Operations (diluted)1
$
1.06

 
$
3.27

 
(68
)%
 
Adjusted Earnings per Share - Continuing Operations (diluted)1,2
$
2.94

 
$
3.27

 
(10
)%
 

“We faced sizable challenges in our oil and gas and pipe markets in the fourth quarter, which clearly had a negative impact on our financial results,” said Mark Donegan, chairman and chief executive officer of Precision Castparts Corp. “In response, we have taken decisive measures to adjust our operations to the realities of the demand environment as we see it today, by right sizing our operations, evaluating our inventory positions, and exiting underperforming investments. We believe we have taken the right steps to set the stage for improved results going forward.

1 Attributable to PCC
2 Excludes $265 million, or $1.88 per share (diluted), related to the after-tax impact of restructuring and asset impairment charges recognized during the quarter. The $265 million charge includes $179 million, or $1.27 per share (diluted), related to a non-cash impairment charge associated with the company’s ownership interest in Yangzhou Chengde Steel Tube Co., LTD. (Chengde). This charge is lower than the originally disclosed estimated range of $210 million to $220 million due to finalization of the analysis. The charge also includes a small impairment associated with an unrelated joint venture. See Non-GAAP Financial Measures.



The following information was filed by Precision Castparts Corp (PCP) on Wednesday, May 13, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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